Pyxis Oncology expects to release preliminary data from ongoing Phase 1 clinical studies of MICVO for patients with recurrent and metastatic head and neck squamous cell carcinoma in the fourth quarter of 2025. The update will include data from monotherapy dose expansion studies and combination studies with KEYTRUDA in various patient populations. Translational data presented at ESMO and AACR-NCI-EORTC highlighted MICVO’s mechanism of action and potential benefits. The company also reported a cash runway into the second half of 2026.
Financial results for the third quarter of 2025 show Pyxis Oncology had cash and cash equivalents of $77.7 million as of September 30, 2025. Research and development expenses were $17.8 million, with program-specific costs for MICVO increasing due to manufacturing and clinical trial expenses. General and administrative expenses decreased to $5.6 million. The net loss for the quarter was $22.0 million or ($0.35) per common share. As of October 31, 2025, Pyxis Oncology had 62,264,215 outstanding shares of common stock.
Pyxis Oncology, Inc. is a clinical-stage biopharmaceutical company developing therapeutics for difficult-to-treat cancers. MICVO, the lead candidate, is an antibody drug conjugate designed to target the tumor extracellular matrix. Fast Track Designation was received for the treatment of adult patients with R/M HNSCC. The company aims to improve outcomes for HNSCC patients through MICVO’s three-pronged mechanism of action. For more information, visit the Pyxis Oncology website or follow them on LinkedIn.
The condensed consolidated financial statements for the third quarter of 2025 show a loss from operations of $23.5 million, with total revenues of $2.8 million. The company had cash and cash equivalents totaling $8.9 million as of September 30, 2025. Current assets include marketable debt securities and restricted cash, while liabilities consist of accounts payable and operating lease liabilities. Stockholders’ equity includes common stock, additional paid-in capital, and accumulated deficit.
Read more at GlobeNewswire: Pyxis Oncology Provides Business Update and Reports Third